IN PARTNERSHIP
How to extract data insights that could score your next licensing deal or investment
Prevail InfoWorks, a global CRO/FSP, reveals why an integrated and interoperable trial could make all the difference to a potential growth opportunity.
A
fter a recent investment conference, a notable biotech investor was quoted as saying: “Tell me something
different. Tell me something I haven’t heard before.” Investments in biotech are down more than a third from 2021, and the promise of positive results to come aren’t getting biotechs as far as they used to.
So what can you do to convince others your product is different and will succeed? Provide faster proof of your asset’s safety and accelerated analysis of study data. Your or your third-party vendor systems require their own passwords and create their own individual reports. Your company doesn’t see an integrated study report until after the study concludes and the data from all researchers, suppliers, groups, participants, etc, is locked. Now this happens: during a study, a patient reports feeling woozy on the treatment you are developing; other patients report similar effects, without explanation. If the events escalate, the trial could be put on hold or even fail – but there’s a reason. The patients had blood drawn on the days they felt woozy. Doctors reported that data in a different system and it wasn’t properly harnessed, consolidated and reconciled with the other data. If everything was integrated and interoperable, you wouldn’t risk this happening. The blood tests would be clearly noted, then the US Food and Drug Administration (FDA) would count it as blood work instead of adverse events. “We developed The Single Interface® to avoid scattered and siloed data affecting investments,
“We were seeing companies entering data into multiple systems and manually reconciling the data to correlate individual reports. That’s
partnerships and FDA approvals,” says Jack Houriet, CEO of Prevail InfoWorks, a global CRO/ FSP, and the service provider of patented single sign-on data integration and analytics service. “We were seeing companies entering data into multiple systems and manually reconciling the data to compare and correlate individual reports. Or another CRO would say they were handling things, but the company would not see the trial updates except periodically or until the end, when the window has already closed to address any unanticipated trends. In effect, unacceptable in 2023.”
Integrated and interoperable data has other bonuses, too. You can bring historical, publication, and competitor data into data visualisations for broader insights and cross- study correlations. When data is continually updated, you can show investors and potential strategic partners early signals of desired results. You may also decide to make a mid-course correction if data isn’t trending in the anticipated direction. For instance, you initiate a $10m trial. After spending $2m, using
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